1st Source Says On May 31, Vendor To Co's Unit, Progress Software Corp, Disclosed A Previously Unknown Vulnerability In MoveIt File Transfer Software; Co's Investigation Is Ongoing, And It Is Also In Contact With Law Enforcement And Regulatory Authorities
Portfolio Pulse from Happy Mohamed
1st Source Corporation's unit, Progress Software Corp, has disclosed a previously unknown vulnerability in its MoveIt File Transfer Software. The company is currently investigating the issue and is in contact with law enforcement and regulatory authorities.
July 10, 2023 | 7:37 pm
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NEGATIVE IMPACT
1st Source Corporation's unit, Progress Software Corp, has disclosed a vulnerability in its software. This could potentially impact the company's reputation and customer trust.
The disclosure of a software vulnerability can lead to a loss of customer trust and potential regulatory scrutiny, which could negatively impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100